Software: MoneyWorks Accounting software You can claim GST relief on your bad debts if you meet the conditions and requirements under the GST (General) Regulations. You can do a self-review to determine if you are eligible to claim bad debt relief by using the checklist, Self-Review Of Eligibility In Claiming Bad Debt Relief. If you satisfy all the conditions, […]

Software: MoneyWorks accounting software Refer to MoneyWorks v7 User Guide, Page 201, “GST, VAT, Sales Tax & Tax Codes”. The GST report can be printed from the Reports menu | GST Report. As an audit control, the current GST Cycle has to be finalised before you can move on to the next GST Cycle; and […]

Software: MoneyWorks accounting software Assuming when cross over to MoneyWorks accounting software as at 31 December 2014, you created a stock item, P101, but forgotten to add the “buy price” (average cost as at the closing date) in the item profile. When 3 pieces of P101 were recorded as a closing stock quantity, due to zero “buy […]

Software: MoneyWorks accounting software Heading Only. If you want the account to be primarily used as a heading in summary reports, set this option. You will not be able to directly code to these accounts, and they will be greyed out in the choices window. – Page 37 of the MoneyWorks user guide Heading Only […]

Software: Quickbooks accounting software When you remit payment to supplier often there is a bank charge associated with the fund transfer. We usually record it as a separate transaction. That is, record a bill payment in Quickbooks for the amount owing (assume that we made a payment of $10,0000). Then, using a write cheque transaction […]